New Issue: RBC prices $2.5 million dual directional trigger PLUS linked to Facebook

By Sarah Lizee

Olympia, Wash., June 8 – Royal Bank of Canada priced $2.5 million of 0% dual directional trigger Performance Leveraged Upside Securities due June 3, 2022 linked to Facebook, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

If Facebook shares finish at or above the initial level, the payout at maturity will be par of $10 plus 1.5 times the stock return, up to a maximum payout of par plus 35.4%.

If the stock falls by up to the 80% trigger level, the payout will be par plus the absolute value of the stock return.

Otherwise, investors will lose 1% for each 1% decline of the stock from its initial level.

RBC Capital Markets, LLC is the agent. Morgan Stanley Wealth Management is handling distribution.

Issuer:	Royal Bank of Canada
Issue:	Dual directional Trigger Performance Leveraged Upside Securities
Underlying stock:	Facebook, Inc. (Symbol: FB)
Amount:	$2,498,500
Maturity:	June 3, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If stock gains, par plus 150% of return, up to 35.4% maximum return; if stock falls by up to trigger level, par plus absolute value of return; otherwise, 1% loss for each 1% decline of stock from initial level
Initial level:	$225.09
Trigger level:	$180.07, 80% of initial level
Pricing date:	May 29
Settlement date:	June 3
Agents:	RBC Capital Markets, LLC
Fees:	2.5%
Cusip:	78014K741

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